Monday, April 17 2006 11:58 Hrs (IST) - World Time -

Mumbai: The Rupee rallied smartly from the weakened 3-months' low, backed by bunched up dollar supplies from the long holiday weekend and a retreating dollar overseas.

In moderately active early trade at the Interbank Foreign Exchange Market (forex) the Rupee was quoted at 45.09/10 per dollar in late morning deals, sharply higher from last Thursday's close of 45.17/19 per dollar.

The Rupee opened on a firm note at 45.17/19 per dollar.

The forex spot trade was closed on April 14 on account of 'Good Friday'.

Heaped up dollar supplies from the long holiday weakened amid a distinctly weak dollar overseas fuelled a sharp rupee rally early today but fears of central bank dollar buying intervention may contain further steep gains, a Forex dealer said.

Meanwhile, firm crude oil prices at US$ 69.92 a barrel could weighed on Rupee value amid a slow-down in foreign fund inflows.

Turning to Cross Currency trade, the Euro was quoted at Rs 54.93/95, Pound Sterling at Rs 79.28/30 and Japenese Yen (100) at Rs 38.10/13.